BTC/SGD is seen trading slightly above on Wednesday. The pair has made a low of 973 on Nov 13th, 2016 and recovered sharply from that level (ITBIT). It is trading at 1012.43 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 999.47

Kijun-Sen level: 952.61

Trend reversal level - (100 day MA) – 860

Long-term trend remains to be bullish. It has taken support near 21- day MA and any slight weakness can be seen only below that level.  The pair is currently trading above 10-day MA, Tenkan-Sen and Kijun-Sen. So, a slight jump till 1090 is possible.

Major resistance is around 1031(Nov 3rd high) and any violation above will take the pair till 1051 (Jun 18th high)/1090 (161.8% retracement of 1031.92 and 936.20). Short-term support is seen at 997 (10- day MA) and any break below targets 985 (21 day MA)/952 (daily Kijun-Sen)/936.20 (Nov 3rd 2016 low).